Energy price cap: why you should fix your tariff now for as long as three years – Telegraph.co.uk

Households should fix energy prices now, after draft legislation for the Government’s energy price cap was revealed, which experts say will lead to price hikes for many customers.

The Department for Business, Energy and Industrial Strategy published details of the cap this morning, saying it will be a “temporary measure” until 2020.

The initiative, which promises to protect 5 million families from rip-off tariffs, will be kept under review and on the advice of Ofgem, the regulator, could be extended until the end of 2023 at the latest.

Mark Todd, founder of energyhelpline, the energy switching site, suggested it could be as much as £1,160 for your total energy bill a year. In a best case scenario the cap could still be £1,066, he said.